TORONTO, Dec. 1, 2025 (GLOBE NEWSWIRE) — Argo Corporation (TSXV:ARGH), (OTCQX:ARGHF) (“Argo” or “Company“), a leader in next-generation transit solutions, announced financial results for the quarter ended September 30, 2025 (“Q3 2025“) All figures are in Canadian dollars unless otherwise noted.
In the third quarter of 2025, the Company demonstrated the continued success of its proprietary AI-powered transit infrastructure solution, Smart Routing™, for municipalities. This end-to-end platform combines Argo X1 electric buses, charging infrastructure, real-time routing software and a full range of services to deliver dynamic, on-demand transit services.
- City of Brampton: The company launched services in downtown Brampton in November 2025 under a landmark 12-month agreement worth $10.9 million. The partnership showcases Argo's Smart Routing™ system in one of Canada's fastest-growing cities, complementing a robust existing public transportation network. The deployment provides seamless connectivity to Brampton Transit's high-density fixed lines and GO Transit.
- Town of Bradford West Gwillimbury (“BWG”): The company launched the implementation of Smart Routing™ in BWG in April 2025, more than doubling average daily transit ridership in BWG in two months. The company announced that by September 2025 it had increased the number of monthly transit services to Bradford GO station by 5.5 times its baseline in the 12 months preceding the April launch.
- Ontario will SOON integrate: The company has entered into an agreement with Metrolinx, an agency of the Ontario government, to enable the installation and use of PRESTO fare collection devices on X1 Argo electric buses, allowing for full fare integration for transfers to and from existing transit networks, including Brampton Transit and GO Transit, within Ontario. “Single Tariff” program.
- Reliable sales system: The Company is currently in discussions with numerous municipalities and transit agencies to expand its Smart Routing™ system, with many of these discussions related to inbound requests following successful deployment and proven operation of the system.
The results reflect early revenue growth from BWG's municipal deployment of Smart Routing™, as well as ongoing investments to scale its technology and operating platform. The company will begin recognizing revenue under its $10.9 million, 12-month agreement with the City of Brampton as services are provided following launch on November 26, 2025. The Company has also granted a total of 1,600,000 restricted shares to certain directors and officers under its comprehensive long-term incentive plan, all of which will vest within one year. Further information can be found in Argo's condensed interim consolidated financial statements for the three months ended September 30, 2025 and 2024 (“Financial statements for the 3rd quarter of 2025“) and management's discussion and analysis of financial condition and results of operations for the three months ended September 30, 2025 and 2024 (“Q3 2025 MD&A“), filed on SEDAR+ at www.sedarplus.ca.
About Argo
Argo provides the world's first vertically and publicly integrated urban transportation system designed to expand public transportation and create a network of intelligently routed vehicles that work together to serve and scale to the needs of entire cities, putting people in control of their mobility. You can find out more at www.rideargo.com.
Praveen Arichandran, CEO
Argo Corporation
(800) 575-7051
Forward-Looking Information
This press release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are often identified by words such as “may,” “will,” “plan,” “anticipate,” “anticipate,” “estimate,” and “intend,” as well as similar words that relate to future events and results. Forward-looking statements are based on management's current beliefs and expectations. The forward-looking information set forth in this press release relates to future events or our future results and includes, but is not limited to, statements regarding revenue recognition in future quarters, future municipal agreements or launches and the future growth of the Company. All forward-looking information is inherently uncertain and is subject to numerous assumptions, risks and uncertainties, as more fully described in the Company's securities filings available at: www.sedarplus.ca. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance on them. We undertake no obligation to revise or update these forward-looking statements except as required by applicable law. See “Cautionary Note Regarding Forward-Looking Information,” “Financial Risk Management Objectives and Policies,” and “Other Business Risks and Uncertainties” in the Company's Q3 2025 financial statements and its Q3 2025 MD&A for a discussion of the uncertainties, risks and assumptions associated with these statements and other risks. Readers are urged to consider carefully the uncertainties, risks and assumptions in evaluating forward-looking information and not to place undue reliance on such information. We do not intend, and undertake no obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws and regulatory requirements.
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Media Contact: Christina Ra, Argo Corporation, [email protected](800) 575-7051
